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Market Update July 1, 2016

Friday, July 15th, 2016

LACOMBE: The Lacombe market in June bucked the trend we are seeing in our other central Alberta markets except Ponoka ‐ sales dropped when compared with May of this year while the number of active listings increased again, pushing the market further into buyer’s territory. The Red Deer market has been balanced for the last two months and we think that trend is coming to Lacombe soon.

The median sale price for central Alberta recovered a little in the 2nd quarter and is now back to where it was at the peak in 2007. That means that in the 2nd quarter of 2016, when considering all the sales in Red Deer, Sylvan Lake, Lacombe, Ponoka, Blackfalds, Penhold and Innisfail, the sales price with an equal number of sales higher and an equal number lower moved up a little to $312,900 from $308,000 in the 1st quarter of 2016.

Median price is used to define trends only. An upward movement in the median price doesn’t necessarily mean that the price of an individual home went up. It more likely means that there were more sales in the higher price ranges. We have seen strong activity at the high of the price spectrum in some markets this year. It’s not possible to broadly define an exact percentage increase or decrease in prices for the overall market because every price range and every market is a little different based on the supply of active listings relative to the demand. Ask Dawn Parent for specific market advice about your property.

February 15, 2016- Market Update

Tuesday, February 23rd, 2016

Lacombe sales in the first two weeks of February made a strong recovery after a slow January and the number of pending sales suggests that the month could finish strong as well.  The number of active listings is up slightly, consistent with a normal spring market in central Alberta.

Sales across central Alberta so far this year appear to be about average when compared with the last five years.  The ATB article below does provide a partial explanation.  While it does discuss Calgary and Edmonton, central Alberta certainly will be experiencing similar gains.  It seems that “bad” in Alberta is just normal in the rest of the country and we are still an attractive destination for people looking for opportunity.

There are other reasons why the market is still behaving relatively normally.  Energy accounts for about 25% of Alberta’s economy compared to 35% a couple of decades ago.  Some of the rest of the economy outside of energy is benefitting from low energy prices.  Some of it is benefitting from the low Canadian dollar.   And some is just behaving normally, not affected by low energy prices at all.  We don’t want to minimize the pain energy companies and their employees are experiencing, but constantly dwelling on the negative does not help them, or us.  Alberta is and always will be in the future a terrific place to live, grow and invest.

Population Growth Still Strong, Rob Roach • Director of Insight, ATB Financial

The latest population estimates from Statistics Canada show that Alberta’s two large metros grew by more than 65,000 people between July 1, 2014 and June 30, 2015. At 2.4 per cent, Calgary and Edmonton tied for second spot on the list of fastest growing Census Metropolitan Areas (CMAs) in the country.

Average growth across all CMAs was 1.2 per cent. Thunder Bay, Peterborough, Saguenay, Sudbury, and Saint John are the five CMAs that saw a reduction in population.

The economic slump has slowed the inflow of both international and interprovincial migrants to Edmonton and Calgary. As a result, their growth rates are down from the previous year. Growth in 2013-14 was 3.5 per cent in both.

Taking a longer view, Calgary and Edmonton have grown by 47.2 per cent and 41.7 per cent since 2001—the fastest growth rates in the country. This translates into 462,000 new Calgarians and 401,000 new Edmontonians over that last decade and a half.

In terms of overall size, Calgary and Edmonton are the fourth and fifth largest CMAs in the country, respectively, and are two of Canada’s six CMAs with populations over one million. With the economic slump continuing into 2016, growth in the two cities will likely continue to slow but still remain among the strongest in the country.

 

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February 15 2015 – Market Update

Wednesday, February 18th, 2015

Lacombe Market Update – At first glance, it appears that the market is slower with only one sale reported in the first two week in February.  In the past two weeks, the number of active listings has also jumped dramatically.  A closer look though reveals that there are a good number of sales pending which bodes well for the end of the month sales count.  As well, the number of active listings was bumped higher with the addition of several building lots put on MLS and inflating the inventory count.

It’s only normal that some buyers are holding off, waiting until they are sure their jobs are secure and for some indication where the market is going in the longer term.  Unfortunately some irresponsible comments by the media and our provincial government about the length of the downturn and the size of the budget shortfall are causing more damage than the economy itself.

Read carefully and it’s obvious that a lot of the jobs cut by major energy producers are not all in Alberta and are mostly contractors.  Many of those contractors will be able to fill some of those vacant positions that have been unfilled.  Only 25% of Alberta’s economy is derived from energy and not all the jobs are going away.

New ATB Poll finds: Albertans are keeping calm and moving on – Nick Ford – ATB

From newspapers to TV screens, there’s been heavy coverage of Alberta’s current and future economic landscape. Politicians, journalists and economists have all weighed in but how do Albertans feel about the current state of the economy? ATB Financial asked this question and others to gauge consumer sentiment in its brand new bi-weekly Ear to the Ground poll.

Despite news of oil’s price struggles and a weakened loonie, 45 per cent of the survey respondents view the current Alberta economy as strong with 27 per cent of respondents perceiving our economy as weak. There are signs of worry amongst Albertans however.  Over a third of Albertans anticipate that the economy will be weaker six months from now compared to about a quarter who believe it will be stronger.

Additionally, close to 40 per cent of Albertans express intent to delay major purchases such as a house or car. And, 45 per cent are reconsidering travel plans. In general, Albertans are waiting for the dust to settle before deciding to make any large-scale purchases. This is likely tied to market uncertainty and the concern the economy might weaken in the next six months.

In general, Albertans are relatively optimistic about our economy. The latest retail sales numbers indicate that spending is still well above where it was two years ago. For now, Albertans will continue to trudge through the flurry of economic news stories.
ATB Financial’s most recent forecast projects that Alberta’s economy will grow by two per cent in 2015.

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RE/MAX Housing Blog: a Mom’s Advice: Preparing Your Home for Baby

Thursday, October 9th, 2014

By Deborah Kearns, RE/MAX Senior Editor, Corporate Communications

This spring, we welcomed a healthy baby boy to our family. His happy addition expanded our family from three to four. It also expanded the housework, cleaning and laundry tenfold now that we have two kids!

I admit, it hasn’t always been easy. After a few exhausting weeks, we eventually settled into a rhythm, a productive albeit at times chaotic, one.

What helped were the steps I took before he was born.

1. Take stock and declutter. Before the baby arrives, it helps to declutter your home as much as possible – for your own sanity and to make room for all the baby gear you’ll acquire. Paring down unnecessary belongings and furniture is a great way to add some simplicity to your now-very-busy life.

2. Baby-proof your home in stages. You don’t have to do it all at once! To save time and money, childproof your home as your baby shows signs of reaching milestones like rolling over, sitting up, crawling and walking. Here’s a great guide from Parents.com.

3. Make the nursery functional. It’s tempting to want to re-create the immaculate nursery designs you see on Pinterest, but my advice is to put function first. Ease and practicality should take precedence over style.  Install window coverings that block out UV rays to help keep the room comfortable and dark during sleep times.

4. Check those smoke detectors. You might not think of this in the hustle and bustle, but testing the smoke and carbon monoxide detectors in your home is extremely important. We have smoke detectors in every room, and a carbon monoxide detector on every level. The U.S. Fire Administration has many resources to help you choose and install these critically important devices.

Have your own tips to share on prepping a home for a new baby’s arrival? Share them below! And if you’re looking for more space for your little addition(s), ask Dawn Parent to help you find the right place.

 

Dawn Parent, RE/MAX REAL ESTATE CENTRAL AB.
#1, 5265-45 STREET, Lacombe, Alberta, T4L 2A2
Tel: 403-782-4301 Fax: 403-782-2285
The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Central Alberta REALTORS® Association
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